Cincinnati.com Op-Ed: Why Ohio needs Export-Import Bank

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Cincinnati.com Op-Ed: Why Ohio needs Export-Import Bank

The U.S. Export-Import Bank has for decades been one of America’s most effective tools to help businesses in Ohio and across our country grow, create jobs, and compete in the global economy. But Congress’ failure to renew the bank’s charter before it expired at the end of June will put export-related Ohio jobs at risk and threaten to tilt the playing field against U.S. exporters and manufacturers.

Throughout its 81-year history, the Export-Import Bank, or “Ex-Im,” has provided businesses of all sizes with financing they need to go head-to-head with foreign competitors. The bank has helped more than 350 Ohio businesses – including 226 small businesses – sell Ohio-made products around the globe since 2007. It has also supported more than 1.3 million jobs nationwide, including high-paying manufacturing jobs in cities and towns across Ohio.

The loss of the Export-Import Bank would be damaging to Ohio, particularly the Greater Cincinnati area. Since 2007, more than two dozen companies in Hamilton County – from GE Aviation to smaller manufacturers like Consolidated Metal Products Inc. – have received help from the bank to support almost $1 billion in exports.

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